St. Mary's College of Maryland, whose president will step down at the end of the month amid an admissions crisis, announced an interim replacement Monday.

Ian Newbould, who has served as president of three universities throughout his 30-year career, will assume the post Aug. 1. He replaces Joseph Urgo, who served as president at St. Mary's, a public honors college in Southern Maryland, since 2010. Urgo asked the board of trustees not to renew his contract when it expires this month.

Newbould most recently served as interim provost at the University of Mary Washington in Fredericksburg, Va. He earlier presided over Richmond, the American International University in London; North Carolina Wesleyan College and Mount Allison University in Canada.

"We are extremely pleased to have a distinguished academic leader and scholar on board to provide leadership during such an important period in our College's history," St. Mary's board chairwoman, Gail Harmon, said in a statement. "Dr. Newbould has a clear appreciation of and commitment to St. Mary's special mission as a public liberal arts college."

St. Mary's is facing a projected admissions shortfall of 150 incoming freshmen — roughly a third of the class. The shortage, if realized, could cost the school as much as $3.5 million in lost tuition. The board of trustees, which learned of the shortfall last month, is investigating the issue.

In a statement, Newbould said he is "honored" to serve St. Mary's.

Charles "Chip" Jackson, St. Mary's vice president for business and finance, will serve as acting president next month, until Newbould can take over.